Bill C-414 (Historical)

An Act to amend the Income Tax Act (refundable tax credit for low-income earners)

This enactment amends the Income Tax Act to provide for a refundable tax credit of up to $2,000 for taxpayers earning up to $40,000.

International Day for the Eradication of Poverty

[Keith Martin, Liberal, Esquimalt—Juan de Fuca, BC]

Mr. Speaker, Friday was International Day for the Eradication of Poverty.

Currently, up to 6.2 million Canadians live in poverty and many cannot afford life's essentials. A shocking one in seven children live in low income situations. Sadly, poverty rates have seen a continuous increase in recent years, especially among aboriginal people, those with disabilities, recent immigrants and the one in four Canadians who toil in low-paying, often part-time jobs.

Just last month, the Conference Board of Canada gave Canada a C for its progress in child poverty and a D for its work in addressing the working poor, which is why I introduced Bill C-414, the Canadian low income supplement. This bill would virtually eliminate federal taxes for those who make less than $20,000 a year and puts real money in the hands of those who need it the most.

However, we also need a national affordable housing strategy, a productivity agenda, and we must enable people to access the skills they need to break out of the poverty cycle and achieve their dreams. Inaction is not an option.

Income Tax Act

[Keith Martin, Liberal, Esquimalt—Juan de Fuca, BC]

moved for leave to introduce Bill C-414, An Act to amend the Income Tax Act (refundable tax credit for low-income earners).

Mr. Speaker, I would like to thank my fine colleague from Madawaska—Restigouche for seconding this bill.

One of the primary goals of any government is to help those most in need. Sadly, poverty and the poor have received very little attention on the Conservative government's watch. The tragedy is that poverty is a social blight and goes to the heart of people's ability to simply live and care for themselves.

There are too many Canadians who have to make choices between food and medication, rent or clothes. In fact, more people are having to make those decisions in this economic downturn. Poverty is reducing their opportunities to care for themselves and lift themselves out of the poverty trap.

In response to this, my bill introduces the Canadian low income supplement. It would put $2,000 in the hands of those Canadians who make less than $20,000 a year. The amount would decline to zero at $40,000. It would only discriminate on the amount of money people have in their pockets. Seniors, the young, those with families or who are alone would all be included.

This would be real money, tax free, in the hands of those who need it the most. It would put money into the hands of those who are poor. It would limit demands on the public purse. It would not impede our economy. The Canadian low income supplement would help those most in need in Canada.

I hope this bill opens up the very important debate on poverty in Canada so we can implement solutions to help those most in need in our society.

(Motions deemed adopted, bill read the first time and printed)